Becker Drapkin Management Cuts Stake In PRGX Global Inc (PRGX)

Becker Drapkin Management has reduced its exposure to PRGX Global Inc (NASDAQ:PRGX). The fund, run by Matthew Drapkin and Steven R. Becker, has decreased its holding of the stock to 1.49 million shares according to a recent filing with the Securities and Exchange Commission. The current stake amasses 4.97% of the total number of shares outstanding. During the previous quarter, Becker Drapkin Management had increased its position by 241% to 1.83 million shares.

PRGX Global Inc (NASDAQ:PRGX)

PRGX Global Inc (NASDAQ:PRGX) is also on the radar of Jim Simons. His fund, Renaissance Technologies, has reported ownership of 1.06 million shares, up 1% during the first quarter, in its latest 13F filing. John Overdeck and David Siegel, who run Two Sigma Advisors share Simons’ optimism and have increased their holding of PRGX Global during Q1 of 2014 by 26% to 154,440 shares.  J. Carlo Cannell,  on the other hand, is not so optimistic about this stock and has decreased his fund’s exposure by 38% during the same period. Cannell Capital reportedly holds 563,800 shares.

A provider of recovery audit services with a global presence, PRGX Global Inc (NASDAQ:PRGX) has registered revenues of approximately $38 million for the first quarter of this year. The loss per share has widened to $0.12 per share, compared to a loss of $0.02 per share for the same time last year. Still, analysts are optimistic about the prospects of the company and expect revenues of $41.5 million and earnings of $0.03 per share for the current quarter. The company has a market cap of $187 million and does not pay a dividend.

During the first quarter of 2014, Becker and Drapkin have increased their holding of Cascade Microtech, Inc. (NASDAQ:CSCD) to 1.25 million share, up 30% from the position reported at the end of 2013. Another big bet is the new position in Republic Airways Holdings Inc. (NASDAQ:RJET), having acquired approximately 750,300 shares. Becker Drapkin Management’s top position remains Comverse Inc (NASDAQ:CNSI), with the fund holding 1.35 million shares.

Disclosure: none.

Dividend Stock Alert - Billionaire Robbins' Top Dividend Idea With 70% Upside Potential

Get Paid 3.5% Per Year While Waiting For The Stock Appreciate 70%

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click Here to Read Comments
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!